The Fed issued a statement Friday morning that they are delaying the implementation of the Basel III capital rules which were to go into effect January 1st.
Apparently JPM and Goldman whined that they were not ready for the implementation of the new rules, so they have been postponed indefinitely. Is anyone surprised?
Full Federal Reserve statement below:
U.S. regulators on Friday delayed the effective date of a global agreement on greater bank capital buffers reached in response to the financial crisis of 2008.